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April trade deficit widens to $15 billion; exports, imports register growth

Severe contractions in engineering goods, gems exports means 2019-20 began with a whimper for exports

Overall, import growth hasn’t touched double-digit figures since October and the monthly trade deficit came in at $15.33 billion, up from $10.89 billion in March
Overall, import growth hasn’t touched double-digit figures since October and the monthly trade deficit came in at $15.33 billion, up from $10.89 billion in March

There was disappointing news on the exports front in the new financial year as growth crashed to a four-month low of only 0.64 per cent in March, as sectors such as engineering goods and gems and jewellery suffered sharp contractions. According to data released by the commerce and industry ministry on Wednesday, exports stood at $26.07 billion in April, managing an overall positive growth rate due to high realisations from petroleum receipts.  The sudden reversal in outbound shipments comes in stark contrast to March, when export growth had reached double digits for the ...